Both these updates feature the same changelog. They patch some severe security vulnerabilities affecting cloud services and virtual machines. Namely, in certain environments, virtual machines could improperly access information from other virtual machines.

KB4516033/KB4516065 changelog

The official changelog reads:

Provides protections against a new subclass of speculative execution side-channel vulnerabilities, known as Microarchitectural Data Sampling, for 32-Bit (x86) versions of Windows (CVE-2019-11091, CVE-2018-12126, CVE-2018-12127, CVE-2018-12130). Use the registry settings as described in the Windows Client and Windows Server articles. (These registry settings are enabled by default for Windows Client OS editions and Windows Server OS editions.) Security updates to Windows App Platform and Frameworks, Windows Input and Composition, Windows Media, Windows Fundamentals, Windows Kernel, Windows Authentication, Windows Datacenter Networking, Windows Storage and Filesystems, the Microsoft JET Database Engine, and Windows Server.

You can download the latest Windows 7 updates from Microsoft following the links below:

Download KB4516033 [DIRECT DOWNLOAD LINK] Download KB4516065 [DIRECT DOWNLOAD LINK]

Microsoft is not aware of any issues concerning KB4516033. However, in the case of KB4516065,  VBScript in Internet Explorer 11 may not be disabled as intended.

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